Retirement plan

AREA TOOL & MANUFACTURING, INC. PROFIT SHARING PLAN & TRUST

Name: AEREA TOOL & MANUFACTURING, INC. - AREA TOOL & MANUFACTURING, INC. PROFIT SHARING PLAN & TRUST (2022) Form 5500
Creator: AEREA TOOL & MANUFACTURING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AREA TOOL & MANUFACTURING, INC. PROFIT SHARING PLAN & TRUST, AEREA TOOL & MANUFACTURING, INC.

AEREA TOOL & MANUFACTURING, INC.EIN 25-1292857Plan #001PY 2022

181 BALDWIN STREET PARK ROAD - MEADVILLE, PA 16335814-724-3166areatool.comLinkedIn11-50 employeesmechanical or industrial engineering

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.2M

-11.0% from 2021

Total participants

0.0% from 2021

Average account balance

$213,328

-11.0% from 2021

Annual return

-10.23%

-41.02 pp from 2021

Benchmarks

See 22,369 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,369 peers

Snapshot2022

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$4.29M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$268K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

145.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$94K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+29.50%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$14249

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$110K

$9154 / participant

Other / not subdivided$110K100.0%

% of EOY assets

3.433%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$213,328

$100,805+111.6%

$86,698+146.1%

$134,532+58.6%

Participation rate

100.0%

79.0%+21.0pp

76.6%+23.4pp

81.2%+18.8pp

Annual return

-10.23%

29.09%-39.3pp

35.95%-46.2pp

418.27%-428.5pp

Employer contribution / active EE

$1,667

$3,490-52.2%

$2,837-41.2%

$4,741-64.8%

Participant deferral / active EE

$4,704

$5,339-11.9%

$4,656+1.0%

$6,401-26.5%

Admin fee / account holder

$7,323

$10,925-33.0%

$7,493-2.3%

$11,429-35.9%

AREA TOOL & MANUFACTURING, INC. PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AREA TOOL & MANUFACTURING, INC. PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion